Bugatti Rimac, the join venture for future luxury electric hypercars is underway

Bugatti and Rimac, with the placid good of Porsche, from November 1st, kicked off the Bugatti Rimac doo a new company that embodies one of the most exciting cooperation projects in the world of motors. The Bugatti Rimac joint venture will be based in Sveta Nedelja (Croatia) and will see the pioneer of the electric hypercar, Mate Rimac, founder and largest shareholder of Rimac Automobili, as CEO. Porsche AG will play a leading role as a strategic partner. Porsche’s chairman of the board, Oliver Blume, and the vice chairman and member of the board of directors as head of finance, Lutz Meschke, they will sit on the supervisory board of the new company. Bugatti Rimac will be owned 55% by Rimac Group and 45% by Porsche AG. Hyundai, which holds 11% of Rimac shares, is also part of the shareholders. As part of the joint venture, Bugatti and Rimac will continue to operate as independent brands and manufacturers and will maintain their respective production centers in Molsheim (France) and Zagreb (Croatia), as well as their own distribution channels.

In the Bugatti Rimac Board of Directors a mix of expert names in the automotive field

Bugatti’s current CEO, Stephan Winkelmann, left his position at the company on October 31, 2021 to focus on his role as President of Lamborghini.

“This merger is the perfect solution for everyone involved. Together we are building a powerful automotive company “, says Oliver Blume. “We have managed to add value to the prestigious and traditional Bugatti brand by moving it further into the future. Bugatti is synonymous with style and passion; Rimac is an innovative company with a great technical experience. We want to thank Stephan Winkelmann for his outstanding contribution. He did a great job.

In addition to Mate Rimac, the new management team includes the former production manager and co-CEO of Bugatti Automobiles, Christophe Piochon, who becomes the Chief Operating Officer (COO) of the new joint venture. Production will continue in the traditional factories of Molsheim, Alsace, a center renowned throughout the world for its perfectionism and excellence in design and craftsmanship. Larissa Fleischer will be the Chief Financial Officer (CFO). Until now she has been Director of Controlling at Porsche for the digitization and development of new business models. Emilio Scervo, former Director of Engineering McLaren, he was appointed Chief Technology Officer (CTO).

“I am convinced that in our management team we have achieved the perfect mix between experience and knowledge, he has declared Lutz Meschke. For this reason I am very optimistic and, carrying the project in my heart, I will continue to give it my full and enthusiastic support ”.

The CEO of Bugatti Rimac, Mate Rimac

The launch of the Bugatti Rimac joint venture is another big step for the future CEO Mate Rimac, just 12 years after the founding of his start-up in a garage. “I am honored to lead this new merger and to begin what will undoubtedly be a successful, revolutionary and exciting new chapter for all involved,” he says. “It’s hard to find a better match than Rimac and Bugatti. Rimac’s fast-paced operations and electrification capabilities are the perfect complement to Bugatti’s exceptional heritage and craftsmanship. ”

The new carmaker starts with 435 employees, of which 300 will work in Croatia and 135 in Molsheim, France. Another 180 people will be employed for the joint venture by the Bugatti Engineering Center in Wolfsburg, Germany.

In two years, the company’s headquarters should move to the announced Rimac Campus on the outskirts of Zagreb, which will cover 200,000 square meters.